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credibility with kind of average americans so, if the obama administration could get them onboard with some sort of gun control and they would call it common sense, of course, gun control. that would be huge. it's unclear whether or not that is going to happen, but i think it's very likely that's what the white house hopes to do. >> you wrote -- you wrote in your piece on this. walmart cooperated with michael bloomberg. bloomberg is a gun hater. he wants to control all guns, i believe he wants to ban all guns. i wasn't really sure. walmart's not going to ban all guns. the administration's not going to ask him to do that. >> you're right. absolutely right. walmart is thought of as this conservative company. but as you know, larry, big business tends to benefit from regulation. and, in fact, walmart already complies with bloomberg's. he has this thing where walmart is already voluntarily complying with onerous regulations voluntarily. so if they were -- let's just pie in the sky here. let's say they came out in favor of closing the gun loophole. that means i couldn't sell you a gun, for examp
at the most important post in the obama administration. the president nominated his chief of staff, jack lew to, replace timothy geithner. lew has been the budget director for both presidentses clinton and obama. he is viewed as a experienced and hand in negotiations but does not have strong ties to wall street. it is likely he will be confirmed by the senate. >>> the dow jones industrial average continued to rise on earnings news through the week. the s&p 500, in fact, closed at a new five-year high thursday. earnings season is under way, and dow component alcoa kicked off. profits in line at alcoa, while revenues were better than analysts expected. financial giant, wells fargo, beat expectations, as did american express. apple is said to be considering a cheaper version of the iphone. the iphone 5 costs about $200 with a contract with a wireless carrier. the less expensive version would have a plastic body. >>> the debt ceiling, the new treasury secretary, so will washington be an obstacle to the markets and the economy, or will washington actually be a help? joining me now, greg ip, u.s.
has been budget director in both the obama and clinton administrations. he will pray a major role of course in negotiations over the debt ceiling and potential spending cuts. the president will make his announcement at 1:30 eastern. it's an event in the east room at the white house. i have to say off the bat just because he's a forest hills guy like me that i, you know, may be a little affinity, we grew up in the same town. >> that alone could be good. >> different generation. >> maybe a technocrat is what's necessary. no one tells me this guy is acrimonious. the talks may have been. but when we're trying to figure out what to cut, maybe you just need a guy who knows his way around the budget as opposed to a federal reserve guy. i thought tim geithner did a great job, though, and i know i find myself in the minority on that, but he came to the rescue of the system in apparel husband time and i think he good a remarkable job. >> jack lew is well respected by both sides of the aisle. and also portrayed as chief tormenter to the republicans. bob woodward in his book quoted john boehn
. and that's precisely what the obama administration has done. quite effectively. >> the problem with that, general, is it was a bilateral sanctions put us in a position to be able to get unilateral sanctions. a lot of sanctions started as bilateral sanctions led by the united states, work that the u.s. treasury department did. and to extend those to countries and firms operating in other countries. this is theion with hagel's actually his question of judgment on some of these things. do i think, you know, is hagel, you're not going to hear me calling him soft on iran or soft on, you know, questions regarding israel. look at very specific issues that he has had to weigh in on and he's just been wrong on some very big questions, including the surge in afghanistan and the surge in iraq. >> i think that when you look at the sanctions, for example, i don't think it's a problem he voted toward unilateral u.s. sanctions. sanctions don't have to start out as unilateral. that's a decision of the administration and a function of their leadership. the bush administration didn't have the leadership i
the obama administration and now he's got the treasury department, which is a serious agency. but not a left wing agency. hooest got to deal with g-20 bankers around the world. i don't think he can do it. >> these are guys you can trust with a $1 trillion coin in their pocket. >> i don't think i trust anyone -- >> we've got to do this platinum coin later. it's too much. but you guys hang with me for a while. mark, karen, guy, you're all coming back. >>> crisis, fear, and states of emergency. i'm not talking fiscal here, i'm talking about the flu. it's become a nationwide problem this year and one major city has just sounded the alarm bells. we have that story next up. ♪ you know my heart burns for you... ♪ i'm up next, but now i'm singing the heartburn blues. hold on, prilosec isn't for fast relief. cue up alka-seltzer. it stops heartburn fast. ♪ oh what a relief it is! impact wool exports from new zealand, textile production in spain, and the use of medical technology in the u.s.? at t. rowe price, we understand the connections of a complex, global economy. it's just one reason over 7
's a loyalist inside the obama administration and in a place that values loyalty like a lot of white houses, and the question becomes does he have other critical qualifications that say wall street or the international banking and financial system would require, with the big question being, you know, if we were at a place where there was another financial crisis, how well would jack lew, as did robert ruben, hank paulsen and tim geithner do to instill confidence? >> steve, you were right on the money with the jack lew prediction. you and i had this conversation, but i just wonder, you know, there's this antagonistic relationship between the white house and business. >> right. >> there were a handful of business guys in the mix that wanted the job. larry fink. would it be sort of better as a perception from the market or perception of business to put a business guy in there to help the relationship, help the togetherness of business in washington so we actually get some job creation going? what's your take on this choice? >> i don't disagree with the signal that could have been sent had some
. these things aren't that hard. i can't for the life of me understand why the obama administration doesn't embrace the ideas and move forward. >> has this impacted the business climate, tom? what are you hearing from ceos and managers of businesses you're talking to. >> do you think we're done with the uncertainty? >> no. i think we still see -- well, when you hear people like speaker pelosi talking about increasing taxes even further, when we already raised taxes by i think a little over a trillion dollars, the notion of more tax increases scares people. by the way, when we talk about those we're forgetting about the medicare tax that came from obama care. we forget about the investment tax of 3.8% if you're in the real estate business. or the investment business. we forget about the fact we've taken now the fica reductions down. you can't suck that much out of the economy and expect the economy to thrive. >> well, that sort of rebounds back on miss tyson's point. let me play a sound bite from yesterday on the abc program this week from senator mcconnell. >> why aren't we trying to sett
obama starting the process of filling jobs for his second administration. he's going to be nominating former republican senator chuck hagel for defense secretary coming this afternoon at an event in washington. he's also going to be topping john brennan as the next cia director. also in the news this morning, flowers, foods and mexico's groupo bimbo are among those vying for hostess brands. that's according to reuters. i said bimbo. is it bimbo? it's not bimbo. anyway, those brands, including wonder bread, baker's pride and butternut. the bankrupt company liquidating and the bread brands could bring in more than $350 million. of course we all want twinkies so that could be a good thing. finally a key hurdle has been cleared as american airlines and us airways finally explore a emergencier. us airways pilots have backed a proposal by american's pilots union. and those details about the two groups would be combined in the event a deal was struck, a bankrupt american is expected to consider the merger proposal at a board meeting this week. so we might have a deal finally. or at least we'
the interest rate at a record low today. this comes as the obama administration delivers the message to britain saying you're special, but only special if you stay at the heart of the eu. they're under pressure to renegotiation the relationship with brussels. but the u.s. assistant secretary said such a plan would have major consequences. as chairman of the business in europe outlined on cnbc last night. >> we don't want to run the risk of trying to set the bar too high in the sense that there's some fantastic renegotiation we can have where we can cherry pick the bits we like, get rid of the bits we don't, because the chances of that happening are probably close to zero. so we don't want to see any risk in our membership. we want more reform by absolutely we do. we made that very clear in the letter. but we don't want to risk or membership because our membership is responsible for millions of jobs and underpins our future prosperity. >> so that debate is going to em. at the same time, david, you think the pound is going to come under pressure. it's a triple cocktail that's going to undermine i
've seen in the first term. in fact, many would say that the obama administration's foreign policy have been one of its most successful areas. he was long fit for this post, kerry, that is. >> you have set this up on raising the debt ceiling, wider agreement over getting any kind of grand bargain. where do we now go? he has his new team. >> not yet. they need to be confirmed. >> they need to be confirmed, obviously, but as we head towards a debt ceiling which has to be raised by the middle of february, effectively. >> there are quite a few new seens to do with the budget, continuing resolutions, sequestration only postponed. all of this is exactly what we expected at year-end. so the fiscal cliff was so 2012, 2013 is all about the budget. more or less, you've got the same actors in place making the decisions in congress and in the white house. jack lew is himself a washington insider. he's well known to congress and he's there to shepherd the process along. he's not got the wall street experience that a lot of people on the street might be hoping for. but he really knows how to move the
background checks. >>> and the debt ceiling debate is heating up, as well, with the obama administration insisting it won't negotiate with republicans on raising the ceiling. the white house says congress can either pay its bills or it can put the nation into default. reports suggest the government can run out of action to pay those bills as early as mid february. >>> and the creators of south park are setting up their own production studio. they've secured $2 million to set up a company called important stud wrote. the new studio will incorporate revenue from south park and the hit broadway play "the book of mormons." >>> and the ftse 100 closed up with a fresh 4 1/2 low on friday. we had a pupil by another market. but today, the xetra dax, cac 40 and the ibex, as well. shaking off that production data. take a look at what's on today's agenda in the u.s. fed chief ben bernanke will be speaking at the university of michigan later on. he'll discuss monetary policy, recovery from the financial crisis and is long-term challenges facing the u.s. economy. bernanke's xhnts will set the tone fo
't appeared that the obama administration or democrats really are acknowledging that so i've heard they're going to go right back to the well because they only got $600 billion in tax increases. they want, supposedly, $1.2 is the president coming down on his initial demand of $1.6 or whatever. so we need to -- we need to come back to the well on tax increases, and double down on what we already got. without -- and i'm not hearing anything about spending cuts. >> well, first, our problem is primarily a spending problem. >> you've heard what they said, though. >> what the truth is -- but the truth is we're going to have to have more revenues than this last deal. and by the way, the truth is also, you're not going to be able to confine it to people making over $200,000 and $250,000 a year. the numbers don't work. look, here's -- >> eamon just said -- >> why is that the case? you're saying it's a spending problem. and -- >> primarily a spending problem. here's what we need to do. look at all the deals that have been done. august, 2011. this fiscal cliff deal. whatever is done from this poin
think about the view of the obama administration towards the financial sector itself, and i can remember some comments like yeah, you're entitled to a profit but you're not entitled to this huge profit. i think the view of a lot of people in the administration have towards the financial sector, where it's almost seen as not a partner in growing the economy, but almost an impediment to it. do you think we're going to have another four years where they really don't understand how important it is for the financial sector to, you know, to grease the skids for the economy overall? >> well, you know, the regulatory pendulum and attitudes all swing. when there's a crisis it tends to sbing to conservative attitudes, to restraining attitudes and that's what we've seen. we saw it in the '30s, in the late 1980s, early 1990s. but it all always tends to moderate because the financial system is so critical to the well-being of the economy that over time one really has to have a moderate approach to the industry. that will come. now, i can't say that the pendulum has swung as far as it will go. there m
house that will agree with everything that the obama administration wants, then we'll do that and we'll electric more democratic senators, the democrats can control the house, the senate and the white house and we'll give the president a rubber stamp on everything and washington will be totally fixed and we'll live in this great, great european country. so maybe it will go that way. but if it doesn't go that way and it's not washington, it's the people that send these representatives to washington who disagree with -- there's a 50/50 people split in this country of people who love entitlements because they're people on the receiving end and there's people on the other side who is funding everything. i don't know. i don't know whether it's a broken washington or we're just at a crossroads in the way the republic is governed and we have to make a decision as a country which way we head. >> right. that's definitely a lot of the ltage. there's still a lot of assets on the other side of the balance sheet of all those liabilities. you have to focus on growth. growth should be the -- you kn
, of the obama administration has been they don't really care about people with private -- >> you have a long way to go. >> i happen to think jack lew is qualified. look, he's been omb director twice. >> we haven't had a budget in three years. >> he's been chief of staff. he's extraordinarily familiar, we all know, with congress. if you think about the issues immediately ahead which are largely fiscal, he couldn't be better prepared. he has the confidence of the president. he's going to be smoothly confirmed. those are critical criteria. for example, you can't afford in this environment, both globally as well as relative to congress and fiscal cliff, too, you can't afford to nominate someone whose nomination is going to be hung up on the hill. you can't do that. >> former senator judd gregg i heard him this morning saying, look, whether you agree with him or not this is a man who's qualified and he will pass. >> and he's respected on both sides of the aisle. >> and he worked for tip o'neill when tip o'neill was negotiating with ronald reagan and that's an important point. >> he was 20 years old.
" this morning. that notes that obama's new administration looks to be basically all male. there is a concern that women are underrepresented. how would you respond to that criticism? >> well, i would agree with that somewhat. we saw valerie on the front page. within the white house. she's the only senior woman. i have a lot of respect for her. but it would be nice to see more diversity, both in the cabinet and in the white house. so i hope this is something that they've focused on going forward. with that said, you know, you need to look at qualifications, too, and people that the president has confidence in. but i would like to see more women. perhaps in the white house, internally in the white house. >> sheila, are you joining us on a week where major banks are putting even more legacy problems behind them to some degree? varying degrees. we've seen what the stocks have done in the past year. we've seen them leading things like the dow. are you surprised or impressed by their progress? >> well, i'm relieved. i still think there are a lot of challenges ahead. the mega banks stocks continue
. the administrative waste reduction is included in the obama care, but it's -- the implementation is extended, and it's not getting the attention or the push that it really deserves. >> now, a lot of people say that you know what's happening in health care right now is really changing a number of doctors' enthusiasm, willingness to be part of certainly medicare plans, be part of -- they feel that they are not getting paid the way they were. is there a downside there that some top doctors are no longer part of the system? >> well, our plan would actually pay physicians under medicare at 20 20122013 rates, get rid of some of the rates threatened under some of the proposals and freeze them at 20122013 rate and freeze them if physicians participated in high performance health systems or if they performed better than average in terms of quality and efficiency of care. so basically pay them fairly. stop the threats to reducing their fees, but then reward them when they perform well. >> how -- how are you going to police that, that they are performing well? i mean, i understand doing away with some of the e
in the clinton administration. very experienced washington hand. but the lead candidate, i'm told is dennis mcdona. long time obama aid. he would fit the practice, the pattern that president established of picking people close to him for key jobs. like jack lew, he is a no-drama figure. somebody whose ego is not out front. he gets along with others. >> at one time he broke with that pattern i suspect when he went with bill daly, not a chicagoan but not part of that inner circle here. >> just thei issue of independence. if jack lew were able to deliver fiscal sanity. if you ask guys in the market, what is one thing they want from the market, first order they want to away from the brinksmanship toward the level of sanity. corporate tax reform. and i guess i want to throw out to the group here, does the appointment of jack lew make more likely less likely or have no impact at all on the possibility that we get a little fiscal sanity from washington? because to my measure, that's the real thing that matters to the market. >> i think it is. >> i would say not much impact to the extent there is any.
a third of a day's fiber. fiber one. >>> president obama challenges the republicans not to raise the debt ceiling. well, in an hour-long press conference today, we have two money men in the administration who also weighed in about this standoff. jackie deangelis has more on ben bernanke and timothy geithner. good evening. >> good evening. in an afternoon address at the university of michigan, ben bernanke addressed it. he said it allows the government to pay the bills and it's something that government must do periodically. congressional action wouldn't create new spending or add to the deficit either. regarding his hope that the process goes smoothly, he said the following. >> i do hope that congress will allow the government to pay its bills, not raise the possibility of default. which would be very, very costly to our economy. and then address very seriously these fiscal issues. >> this was bernanke's first speech since the release of the fed's latest meeting minutes which caused a stir because it indicated some policymakers wanted to end the bond buying program before year end. meanti
Search Results 0 to 18 of about 19

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